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Sorrento Therapeutics Shares Rise After Receiving UK Authorization for Phase 2 Trial for Covid Nose Drops

By Kimberly Chin


Sorrento Therapeutics Inc.'s shares rose 4.3% after hours to $9.25 after UK regulators cleared a Phase 2 study for the company's Covid-19 nasal drops in newly diagnosed Covid-19 patients.

The Phase 2 trial of Covi-Drops will involve around 350 outpatients with Covid-19 who are either asymptomatic or have mild symptoms compared with a placebo.

This will complement trials in the U.S. and a separate trial in Mexico, the biopharmaceutical company said.

The Covi-Drops are intranasal drops that will have antibodies that fight against the Covid-19 virus, as well as some of its new variants.


Write to Kimberly Chin at [email protected]


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